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Real Estate Showcase - Conversions

Mix
timeless old world craftsmanship with contemporary downtown
luxury and you have 50 Pine Street, a 12-story gem in the
heart of the financial district. This 1902 building, overlooking
Chase Plaza’s famous Dubuffet sculpture and Noguchi
fountain, has recently been converted by Metro Development
Corporation to 20 impressive loft condominiums. Says Halstead
sales agent Jon Phillips, “This residence is like a
double-width townhouse in the East 70s.”

Many superb vintage features have been retained, including
the carved granite entrance and inlaid marble mosaics in the
hallways. All the best new materials have been used as well.
Of the oversized windows, Phillips says, “No everyday
aluminum double-hung - these are handmade ebonized oak by
a company in Prague.” Kitchens have Bosch dishwashers
and external venting; Milanese-accented bathrooms feature
Zucchetti chrome faucets. The deeply fashionable neighborhood
has gourmet groceries, farmers’ markets, loads of dining
and super-convenient transportation. Starting at $1.122 million.

JON PHILLIPS | GINNIE GARDINER
212.381.6549 | HALSTEAD PROPERTY, LLC

FROM
WAREHOUSE TO YOUR HOUSE

A
monumental 1913 warehouse at 415 Greenwich Street has just
been reincarnated as the 66-condo Tribeca Summit. Architect
H. Thomas O’Hara has brought sumptuous modern comfort
to this splendid piece of history. Now offering up dazzling
lofts, duplex penthouses and more, James Lansill, senior managing
director of the Sunshine Group, refers to this building as
“the last great condo conversion in Tribeca.”

One striking feature is the marvelous use of seven original
loading bays as natural canopied entrances to seven private,
terrace-level “Bay Houses” - sprawling family
residences, ideal for Manhattan lifestyles. All home interiors
merge contemporary and traditional, achieving understated
luxury with natural materials and eco-favorable design elements
such as bamboo flooring. The incredible updated courtyard
brings added light and beauty. Other pluses: concierge, fitness
center, children’s playroom, on-site parking. Also,
Tribeca Summit is in top-rated P.S. 234 school district. $2.15
million to $6 million plus.

DENISE ANDEREYA | 212.965.0030 | THE SUNSHINE GROUP

LIVING
HIGH ON LOWER FIFTH

The
Grand Madison at 225 Fifth, a converted century-old landmark
opposite Madison Square Park, is winning raves on all fronts
- affordable prices, spacious living and healthy resale values.
It offers home buyers a choice of 192 spectacular units, including
22 penthouses. “Our one-bedroom residences have the look,
size and feel of two-bedrooms - and they function that way,
though they’re priced much lower,” says Dana Pecorella,
president of Cantor Pecorella, the property’s exclusive
sales agent. “Best of all, resale values are phenomenal
here,” she adds, citing 225 Fifth’s enviable location
along with its historic features and excellent amenities.

Converted by Elad Properties, the Renaissance Revival brick
and limestone building is decked with romantic balconies and
elaborate detailing, and has a lovely landscaped interior courtyard.
Its homes boast spacious open layouts, ceiling heights up to
12 feet, and sweeping vistas of lower Manhattan and the nearby
Flatiron Building. From $940,000 to $4.8 million.

DANA PECORELLA | 212.679.5252 | CANTOR & PECORELLA INC.

“It’s
a challenge to plan living space in converted buildings, what with
strange floorplans and load-bearing walls in unusual spots, but the
fact is people love the character of these homes,” says Marvin
H. Meltzer, vice-president of Meltzer/Mandl Architects. “And
because commercial spaces tend to be deeper and larger, we’re
often able to incorporate extra rooms.”